S&P lifts Brixmor Property view to stable

S&P said it affirmed its BBB- corporate credit rating on Brixmor Property Group Inc. and revised the outlook to stable from negative.

At the same time, S&P also affirmed the BBB- issue-level rating on the company's senior unsecured notes.

“The outlook revision to stable reflects our view that downside risk related to potential strategic and operational shifts following issues surrounding the improper smoothing of quarterly same-store NOI is now limited. We believe the newly appointed management team has implemented key initiatives that should better support the company's business and financial functions, improve overall corporate culture, and enhance internal controls,” said S&P credit analyst Kristina Koltunicki in a news release.

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